Regulation on Periodic Regulatory Reporting of Microcredit Companies and Agencies Conducting Operations in Accordance with Islamic Principles of Banking and Finance

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Date of creation: 2025-04-11

Appendix 2 to the Resolution of the Board of the National Bank of the Kyrgyz Republic of October 17, 2014 No. 45/1

Regulation on Periodic Regulatory Reporting of Microcredit Companies and Microcredit Agencies Conducting Operations in Accordance with Islamic Principles of Banking and Finance

(Changes and additions approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic of January 20, 2016 No. 4/6, June 15, 2016 No. 25/2, June 15, 2017 No. 2017-P-12/25-12-(NPA), December 13, 2017 No. 2017-P-12/51-13-(NPA), January 31, 2018 No. 2018-P-12/4-6, May 30, 2018 No. 2018-P-12\20-2-(NF KU), August 21, 2024 No. 2024-P-12/37-1-(NPA))

General Provisions

This Regulation, in accordance with the Laws of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity", "On Microfinance Organizations in the Kyrgyz Republic" and the Regulation "On Registration of Accounts and Deposits of Residents of the Kyrgyz Republic Opened in Foreign Banks", approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic of July 5, 2000 No. 26/2 (hereinafter - legislation), defines the unified form of periodic regulatory reporting (hereinafter - PRR) of microcredit companies and microcredit agencies conducting operations in accordance with Islamic principles of banking and finance (hereinafter - MCC and MCA).

(In the edition of the Resolution of the Board of the National Bank of June 15, 2017 No. 2017-P-12/25-12-(NPA).

PRR is compiled based on accounting data and off-system accounting data.

(ceased to be in force in accordance with the Resolution of the Board of the National Bank of June 15, 2017 No. 2017-P-12/25-12-(NPA).

Goals and Objectives

PRR is compiled for the purpose of conducting an analysis: a) of the financial condition of MCC and MCA within the framework of the functions performed by the National Bank of the Kyrgyz Republic (hereinafter - National Bank), established by legislation; b) of the activities of MCC and MCA for the adoption of managerial decisions by company leaders, including decisions on ensuring liquidity, solvency, and profitability.

The main task of PRR is to present reliable and complete information about the economic and operational activities of MCC and MCA to ensure the achievement of the goals specified in paragraph 4 of this Regulation.

3. Content and Frequency of PRR Submission

PRR represents a report on the activities of MCC and MCA according to the established form for a specific period and submitted within the established timeframe.

PRR consists of 7 sections: Title Page; Section 1. Regulatory Report on Financial Condition; Section 2. Report on Comprehensive Income; Section 3. Information on Assets; Table A. "Classification of Assets by Risk Degree"; Table B. "Financing Methods"; Table V. "Breakdown of Portfolio by Financing by Industries and Regions"; Table G. "Information on Provided Financing"; Table D. "Information on Problematic Clients"; Table E. "Information on Parallel Financing"; Table Zh. "Information on Volumes of Provided Financing by Industries and Regions"; Table Z. "Restructured Assets Carrying Credit Risk"; Table I. "Analysis of Sensitivity of Assets and Liabilities to Changes in Yield Rates (GAP-Analysis)"; Table K. "Maturity Dates of Assets/Liabilities" Section 4. Self-Assessment Report; Section 5. Report on Foreign Assets and Liabilities: "Data on Private Debt Obligation/Creditor Debt" Form No. 1-ND; "Data on Servicing of Debt Obligation/Creditor Debt" Form No. 2-ND; "Report on Balances of Funds in Accounts or Deposits of Residents in Foreign Banks"; "Notification of Account (Deposit) Opened in a Foreign Bank"; Section 6. Disclosures; Section 7. Information on Compliance with Economic Norms of MCC. Information on members of the Board of Directors, the Board, major founders (shareholders) and members of the Shariah Council of MCC and MCA; Information on specific officials of MCC and MCA; Basic information on MCC and MCA, information on branches/representative offices/structural units (offices), subsidiary and affiliated companies, active committees. The composition of PRR, brief content, and deadlines for its submission are provided in Appendix 1 to this Regulation. (In the edition of the Resolution of the Board of the National Bank of August 21, 2024 No. 2024-P-12/37-1-(NPA)).

The PRR of MCC and MCA for the IV quarter is annual. The annual PRR is submitted to the National Bank by February 1 of the year following the reporting year. (In the edition of the Resolution of the Board of the National Bank of August 21, 2024 No. 2024-P-12/37-1-(NPA)).

4. Procedure for PRR Submission

Each MCC and MCA must appoint an employee responsible for the completeness of content, submission deadlines, and correct completion of the PRR. This employee is also responsible for interaction with the National Bank on all issues concerning the information contained in the PRR.

PRR is submitted to the National Bank in the form according to Appendix 2 to this Regulation within the established deadlines for the report, on paper and electronic media. Electronic versions of PRR must be formed according to templates established by the National Bank.

MCC and MCA located in the Chuy Region and the city of Bishkek must submit PRR on paper media to the National Bank in a sealed envelope.

Electronic versions of PRR must be transmitted via email to the Technical Support Department of the Statistical Database of the Financial Statistics and Review Department of the National Bank (hereinafter - UF SO). In the absence of an email address for MCC and MCA, reports must be submitted on other electronic media (USB flash drives).

MCC and MCA located in other regions of the republic must submit PRR to the corresponding regional department/Batken representation of the National Bank on paper and electronic media. Regional departments and the Batken representation of the National Bank forward PRR to UF SO in an aggregated form.

In case of any discrepancies, errors, incomplete submission, or incorrect completion of PRR forms, the corresponding structural unit of the National Bank notifies the MCC and MCA of the need to correct the report with reflection in the financial statements within 10 working days from the date of receipt of the report. Corrected reports together with a cover letter from the MCC and MCA must be submitted to the National Bank within 5 working days after receiving notification of discrepancies in the report.

In the absence of comments from the National Bank regarding the PRR or after bringing the report into compliance with the National Bank's comments and confirmation by letter from the MCC and MCA, the PRR is considered accepted by the National Bank. (In the edition of the Resolution of the Board of the National Bank of August 21, 2024 No. 2024-P-12/37-1-(NPA)).

MCC and MCA provide PRR for the head MCC and MCA and its branches on a consolidated basis.

PRR must be submitted in the established form: bound, numbered with indication of the number of pages of PRR sections, sealed with a stamp, and signed by employees of the MCC and MCA responsible for compiling and submitting the PRR.

PRR must contain reliable information about the condition of MCC and MCA as of the reporting date. The correctness of reflecting the condition of MCC and MCA in the quarterly and annual PRR is certified by the head of the executive body and the chief accountant of the MCC and MCA.

5. Final Provisions

6. For untimely and/or unreliable submission of information, for failure to submit information within established deadlines, for incomplete and/or incorrect completion of PRR by MCC and MCA, as well as the head of the executive body and chief accountant of MCC and MCA bear responsibility in accordance with the normative legal acts of the Kyrgyz Republic.

(In the edition of the Resolution of the Board of the National Bank of August 21, 2024 No. 2024-P-12/37-1-(NPA)).

20. MCC and MCA must keep second copies of PRR submitted to the National Bank.

Appendix 1 to the Regulation "On Periodic Regulatory Reporting of Microcredit Companies and Microcredit Agencies Conducting Operations in Accordance with Islamic Principles of Banking and Finance", approved by the Resolution of the Board of the National Bank of October 17, 2014 No. 45/1

Composition

PRR of MCC and MCA conducting operations in accordance with Islamic principles of banking and finance

No.

Section

Name

Frequency

Submission Deadlines

Note or reference to NPA

1

Title Page

Quarterly

within 20 calendar days following the reporting quarter

Attached to sections

Annually

by February 1, following the reporting year

2

Section 1.

Regulatory Report on Financial Condition

A. Assets B. Liabilities and Capital C. Off-Balance Sheet Liabilities D. Breakdown of Other Assets and Liabilities

Quarterly

within 20 calendar days following the reporting quarter

Annually

by February 1, following the reporting year

3

Section 2.

Report on Comprehensive Income

Quarterly

within 20 calendar days following the reporting quarter

Annually

by February 1, following the reporting year

4

Section 3.

Information on Assets

A. Classification of Assets by Risk Degree B. Financing Methods C. Breakdown of Portfolio by Financing by Industries and Regions

Quarterly

Annually

within 20 calendar days following the reporting quarter

by February 1, following the reporting year

D. Information on Provided Financing E. Information on Problematic Clients F. Information on Parallel Financing H. Information on Volumes of Provided Financing by Industries and Regions I. Restructured Assets Carrying Credit Risk J. Analysis of Sensitivity of Assets and Liabilities to Changes in Yield Rates (GAP-Analysis) K. Maturity Dates of Assets/Liabilities

5

Section 4.

Self-Assessment Report

Annually

by February 1, following the reporting year

Attached to sections

6

Section 5.

Report on Foreign Assets and Liabilities

Quarterly

within 20 calendar days following the reporting quarter

Attached to sections

Annually

by February 1, following the reporting year

7

Section 6

Disclosures A. Liabilities B. Information on Financing Terms C. On MCC/MCA Clients D. On MCC/MCA Personnel E. Information on Retail Banking Services Provided under Agency Agreement with Banks F. Breakdown of Placement and Investment Operations H. Financing Provided by Founders/Shareholders/Participants

Quarterly

within 20 calendar days following the reporting quarter

Annually

by February 1, following the reporting year

8

Section 7

Information on Compliance with Economic Norms of MCC

Quarterly

within 20 calendar days following the reporting quarter

Annually

by February 1, following the reporting year

9

Information on members of the Board of Directors, the Board, major founders (shareholders) and members of the Shariah Council of MCC and MCA

Annually

by February 1, following the reporting year

Attached to sections

Quarterly

in case of changes during the quarter

Information on specific officials of MCC and MCA

Annually

by February 1, following the reporting year

Attached to sections

Quarterly

in case of changes during the quarter

Basic information on MCC and MCA, information on branches/representative offices/structural units (offices), subsidiary and affiliated companies, active committees

Annually

by February 1, following the reporting year

Attached to sections

Quarterly

in case of changes during the quarter

(In the edition of the Resolution of the Board of the National Bank of August 21, 2024 No. 2024-P-12/37-1-(NPA)).

Appendix 2 to the Regulation "On Periodic Regulatory Reporting of Microcredit Companies and Microcredit Agencies Conducting Operations in Accordance with Islamic Principles of Banking and Finance", approved by the Resolution of the Board of the National Bank of October 17, 2014 No. 45/1

Periodic Regulatory Report of MCC/MCA, conducting operations in accordance with Islamic principles of banking and finance

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of January 20, 2016 No. 4/6, June 15, 2016 No. 25/2, December 13, 2017 No. 2017-P-12/51-13-(NPA)), August 21, 2024 No. 2024-P-12/37-1-(NPA))

Appendix 2

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